"Closing Costs" are the fees which pay for the various services involved in the sale of a home. Sellers & buyers almost always negotiate these costs.
As you'll see below, many of the buyer's costs are related to the costs of getting the mortgage loan. At Bob Rutledge Mortgage, we are highly experienced in residential mortgage lending, so we can provide you with a comprehensive list of closing costs related to your mortgage in your "Loan Estimate".
Soon after you submit your application, we will give you the "Loan Estimate" of your closing costs. The closing costs specified in the Loan Estimate are estimated based on Bob Rutledge Mortgage's experience with mortgage loans, but costs usually vary by small amounts between the Loan Estimate (LE) and closing. We will be glad to review the "Loan Estimate," answering your questions and highlighting costs that sometimes vary a little bit at the closing table.
Below is a generic list of costs for buying residential real estate. We will always provide you with a specific list of your closing costs when we provide your Loan Estimate.
Standard Closing Costs
Interest Payment Escrow Account TaxesCosts associated with "originating" your loan Points — These are costs you pay up-front to lower your interest rate (optional) Appraisal Costs Pulling YourCredit Report
Insurance Transfer Taxes & Recording Fees
Private Mortgage Insurance (PMI) Title Insurance Flood or Earthquake Insurance
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